Avatar Financial Group LLC has provided a $16.1-million bridge loan secured by The Yukon, a three-building industrial campus totaling 52,074 square feet and located at 13100-13130 Yukon Ave. in Hawthorne. The two-year loan carries a 62% loan-to-value and financed the sponsor’s acquisition of the property through a bankruptcy sale. It also provided capital to improve the vacant building and execute a lease-up strategy designed to position the asset for sale or permanent refinancing upon stabilization.
“Basis matters even more in today’s market because it gives sponsors room to execute rather than forcing perfection on day one,” said T.R. Hazelrigg IV, Avatar’s president and co-founder. “Here, the borrower acquired the property through a bankruptcy process at a favorable price, which created the flexibility to improve and lease the remaining vacancy without stretching the capital stack.
The property sits in the heart of Hawthorne’s “Space Corridor,” an infill South Bay location that has emerged as a hub for aerospace, advanced manufacturing and technology users. The campus benefits from convenient access to the 105, 405 and 110 freeways, as well as proximity to Hawthorne Municipal Airport and Los Angeles International Airport.
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